On Wednesday, Shares of Twitter Inc (NYSE:TWTR), gained 1.00% to $29.35. 26.09M shares of the company were exchanged.
Twitter said Tuesday it would jettison up to 336 people — roughly 8% of its workforce — as part of a restructuring CEO Jack Dorsey says will place the social media company “on a stronger path to grow.”
Dorsey confirmed the layoffs in a memo sent to employees and shared the news through his Twitter account.
Dorsey says the cutbacks are needed to speed innovation. Twitter is working “around the clock” on a streamlined road map for Twitter, its video app Vine and live broadcast service Periscope, Dorsey said.
Twitter also offered some good news for investors, saying it anticipates third-quarter revenue and adjusted earnings both to come in above the high end of its formerly forecast ranges. It had forecast $545 million to $560 million in revenue and $110 million to $115 million in adjusted earnings.
Twitter, Inc. operates as a global platform for public self-expression and conversation in real time. It offers various products and services for users, counting Twitter that allows users to create, distribute, and discover content; and Vine and video, a mobile application that enables users to create and distribute short looping videos.
Shares of Citigroup Inc (NYSE:C), declined -0.84% to $50.67, during its current trading session.
Citigroup, named Shyam Sambamurthy as the first global head of its international personal bank business, which focuses on managing the wealth of clients who have assets around the world, according to Bloomberg.
Sambamurthy, a 27-year Citigroup veteran based in Singapore, will oversee a business that has 260,000 clients with more than $60 billion of assets under administration, the bank said in a press release on Tuesday. He was formerly business manager in Singapore for the personal bank.
Sambamurthy will report to Anand Selvakesari, the head of consumer banking for Asia Pacific, and Gonzalo Luchetti, who is the lender’s global head of wealth administration and its Asia retail bank head. In July, Citigroup designated Selvakesari to lead Asia Pacific consumer banking, which generated $7.5 billion of revenue last year, just over half the total for the region. Bloomberg Reports
Citigroup Inc., a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions worldwide.
Finally, Shares of BP plc (ADR) (NYSE:BP), is trading with 1.66% gain, and is now at $35.51, despite oil prices fell again on Wednesday as concerns of a growing global supply glut negated optimism in recent weeks about declining U.S. production.
Crude futures have lost 7 percent so far this week, sliding without stop since Monday after OPEC reportedly pumped 110,000 barrels per day more in September than in August, and nearly 2 million bpd above forecast demand for 2015. Reuters Reports
BP p.l.c. operates as an integrated oil and gas company worldwide. It operates in three segments: Upstream, Downstream, and Rosneft. The Upstream segment engages in the oil and natural gas exploration, field development, and production; midstream transportation, and storage and processing; and marketing and trade of natural gas, counting liquefied natural gas (LNG), and power and natural gas liquids (NGL). ‘
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